Page 4 - Opec

Opec again lowers forecast of global oil demand growth in 2024, 2025

Opec in a monthly report said world oil demand will rise by 1.93 million barrels per day (bpd) in 2024, down from growth of 2.03 million bpd it expected last month

Opec+ unlikely to recommend changes in output policy at Oct 2 panel meeting

Oil prices have fallen in 2024 with Brent crude last month slipping below $70 a barrel for the first time since 2021, pressured by concern about global demand and rising supply outside Opec+

India to lead global oil demand growth in 2024, surpassing China: IEA

Global oil demand is experiencing its slowest growth since 2020, primarily due to weak demand from China and a drop in Russia's global oil supply

Want Opec+ to raise oil output to meet demand, says oil secretary

The Organization of the Petroleum Exporting Countries (Opec) and allies, together called Opec+, last week agreed to delay a planned oil output increase for October

How to trade oil futures amid weak demand, Hurricane Francine? Outlook here

Crude oil strategy, Sept 12: WTI crude oil rice may fall to $65 in medium-term

Opec vs IEA: Diverging oil demand forecasts signal an uncertain future

The difference between the forecasts of OPEC and IEA, amounting to 0.93 million bpd, underscores the widening divide between these key institutions

Opec again cuts growth forecast of global oil demand in 2024, 2025

The weaker outlook further underscores the challenge faced by Opec+, which comprises the Organization of the Petroleum Exporting Countries and allies such as Russia in balancing the market

Opec+ may agree to delay October oil output hike for two months: Report

The news lifted oil prices by over $1 a barrel, with Brent futures trading over $74 before paring gains. It fell to its lowest this year on Wednesday

Oil goes higher as halted Libyan exports levels expected Opec+ supply boost

News of increased production helped push oil prices lower last week but the scale of the sell-off was overdone, said Phil Flynn, an analyst at Price Futures Group

India's oil demand set to plateau by mid- 2040s: BP Chief Economist

Global oil demand will flatline till 2035 before falling, as Chinese demand slows

Opec cuts global oil demand growth forecast in 2024, citing China

The reduction still leaves Opec at the top end of industry estimates. Oil was steady after the report was released, trading above $80 a barrel

China's commodity imports show economy struggling for momentum: Report

China, world's biggest importer of crude, has seen arrivals slump this year, with imports of 10.90 mn bpd in first seven months of year, down 2.9 per cent from 11.22 mn bpd over same period in 2023

Oil prices set for best week in over 2 months on positive demand outlook

The Organization of Petroleum Exporting Countries (OPEC) stuck to a forecast for relatively strong growth in global oil demand for 2024 and Goldman Sachs projected solid US fuel demand this summer

Opec sticks to 2024 crude oil demand growth forecast but trims Q1 view

The Organization of the Petroleum Exporting Countries, in a monthly report, said world oil demand will rise by 2.25 million barrels per day (bpd) in 2024 and by 1.85 million bpd in 2025

US House lawmakers seek antitrust probe of OPEC, other oil companies

Major oil producers appear to be colluding with each other and foreign cartelsto keep prices high, padding their profits at the expense of American consumers, lawmakers said

Further output cut by Opec+ may not affect India's oil supply: Officials

Officials said that temporary fluctuations in oil price as a result of soaring logistics costs and piracy risks may affect Indian oil supplies more

OPEC+ extends oil output cuts to 3rd qtr in bid to support prices: Report

Oil prices trade near $80 per barrel, below what many OPEC+ members need to balance their budget. Worries over slow demand growth in top oil importer China have weighed on prices

Impact of Iranian President Raisi's death on oil, gold and stock market

Oil prices shot up following the news of Raisi's helicopter crash in Asian Markets; OPEC and its allies are expected to meet on June 1

Crude oil prices steady, signal bearish outlook in near term; here's why

Crude oil prices have corrected significantly after posting 16 per cent gains for Q1-2024. However, since April the oil prices have lost roughly 7 per cent of their value, amid the easing of tensions

Opec+ producers could extend oil cuts, formal talks yet to start: Report

The OPEC+ group is currently cutting output by 5.86 million bpd, equal to about 5.7% of global demand